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DuPont
🇺🇸 NYSE:DD
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Dec 31, 2022

DuPont Q4 2022 Earnings Report

DuPont's Q4 2022 performance reflected resilience amidst a challenging global environment, with revenue and operating EBITDA meeting expectations despite weak conditions in electronics and construction end-markets.

Key Takeaways

DuPont reported a 4% decrease in net sales to $3.1 billion for Q4 2022, but organic sales increased by 5%. GAAP income from continuing operations was $105 million, with an operating EBITDA of $758 million. GAAP EPS from continuing operations was $0.20, while adjusted EPS was $0.89.

Net sales decreased 4% due to currency headwinds and portfolio impact, but organic sales grew by 5%.

Operating EBITDA increased due to pricing actions and cost control, offsetting inflationary pressures and lower volumes.

GAAP income and EPS from continuing operations decreased due to higher net charges related to significant items.

Adjusted EPS increased due to a lower share count, lower net interest expense, and higher segment earnings.

Total Revenue
$3.1B
Previous year: $4.27B
-27.3%
EPS
$0.89
Previous year: $1.08
-17.6%
Operating EBITDA
$758M
Previous year: $973M
-22.1%
Gross Profit
$1.06B
Previous year: $1.13B
-6.3%
Cash and Equivalents
$3.66B
Previous year: $2.01B
+82.1%
Total Assets
$41.4B
Previous year: $45.7B
-9.5%

DuPont

DuPont

DuPont Revenue by Segment

DuPont Revenue by Geographic Location

Forward Guidance

For Q1 2023, DuPont anticipates net sales of ~$2.9 billion, Operating EBITDA of ~$710 million, and Adjusted EPS of ~$0.80. For full year 2023, DuPont anticipates net sales of $12.3 billion - $12.9 billion, Operating EBITDA of $3.0 billion - $3.3 billion, and Adjusted EPS of $3.50 - $4.00.

Positive Outlook

  • Continued strength in areas such as water and auto adhesives.
  • Stable demand across industrial end-markets including aerospace and healthcare products.
  • Stabilization of consumer electronics demand as 2023 progresses.
  • Normalization of customer inventory levels as 2023 progresses.
  • Improved China demand to drive sequential quarterly improvement in operating results, most notably in the second half of the year.

Challenges Ahead

  • Lower volumes during the first half of 2023 in consumer electronics and semiconductors resulting from decreased consumer spending.
  • Inventory destocking and COVID-related impacts in China, primarily in E&I.
  • Ongoing softness in construction end-markets in W&P during 2023.
  • Continued weakness in consumer-driven, short-cycle end-markets resulting in organic sales declines in the mid single-digits versus the year-ago period for Q1 2023.
  • Semiconductor fab utilization rates are also anticipated to bottom during the first half

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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